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Lam Nong San Thuc Pham Yen Bai JSC (HNX: CAP) will finalize the 2022-2023 dividend payout with a total ratio of 100%. Specifically, 50% will be paid in cash (owning 1 share will receive 5,000 VND) and 50% will be paid in stock (owning 100 shares will receive an additional 50 shares).
With more than 10.05 million circulating shares, CAP will spend over 50 billion VND and issue over 5 million shares to pay the dividends this time. The ex-dividend date is March 18th, 2024, and the payment date is May 30th, 2024. After the issuance is completed, the charter capital of the Company will be raised to nearly 151 billion VND.
Notably, the majority of dividends will flow into the pockets of the Chairman of the Board of Directors of CAP, Mr. Truong Ngoc Bien, as this shareholder group owns 28.32% of the capital. Among them, Mrs. Hoang Thi Binh, Mr. Bien’s wife and also a Member of the Board of Directors of CAP, holds the largest ownership with 11.82%.
Since its listing on HNX in 2008, CAP has maintained a consistent and “generous” dividend payout every year. The latest time was the 2021-2022 annual dividend payout with a total ratio of 70% for shareholders (42% in cash and 28% in stock).
CAP is a rare gold star enterprise on the market, but its main revenue comes from the business of arrowroot starch – a “billion-dollar” agricultural export product of Vietnam. In the 1st quarter of the 2023-2024 fiscal year (from October 1st to December 31st, 2023), the Company’s revenue reached 186 billion VND, an increase of 18% compared to the same period, in which arrowroot starch contributed 100 billion VND (up 92%) thanks to the benefit from the highest export price of arrowroot in 6 years. However, net profit was only 20 billion VND, a decrease of 30%, due to the burden of high expenses.
Gold star enterprise with declining sales in 2023, awaiting a boost during the peak Lunar New Year
Contrary to the business results, CAP stock price is on the rise, reaching 95,200 VND/share in the session on March 7th (up 20% compared to the beginning of the year), officially breaking the historical peak of 84,300 VND/share in mid-October, 2023. The average liquidity since the beginning of the year reached over 23,500 shares/day.
| After 1 year, CAP’s market price has increased by about 70% |
